Centerra Gold Inc.

Centerra Gold Inc.

October 12, 2010 08:00 ET

RETRANSMISSION: Centerra Gold Kumtor Mine Strike Settled

TORONTO, ONTARIO--(Marketwire - Oct. 12, 2010) - Centerra Gold Inc. (TSX:CG) announced that unionized employees of its Kumtor Mine in the Kyrgyz Republic have ended the illegal work stoppage and returned to work the evening of October 10. A new collective agreement has been ratified by the union and will be formally accepted and finalized over the next few days. The new agreement will expire on December 31, 2012.

The Company reaffirms its prior annual production and cost guidance for the Kumtor mine at 530,000 to 570,000 ounces of gold production and total cash cost in the range of $430 to $460 per ounce produced.

Cautionary Note Regarding Forward-looking Information

This news release contains forward-looking information. Such forward-looking information involves numerous assumptions, risks, uncertainties and other factors that could cause actual events to differ materially from those expressed or implied by such forward-looking information. All information, other than statements of historical fact, is forward-looking information. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information.

Centerra disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

About Centerra

Centerra is a gold mining company focused on operating, developing, exploring and acquiring gold properties primarily in Asia, the former Soviet Union and other emerging markets worldwide. Centerra is a leading North American-based gold producer and is the largest Western-based gold producer in Central Asia. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is headquartered in Toronto, Canada.

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Additional information on Centerra is available on SEDAR at and the Company's website at

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